1. Technical Field
The present invention relates generally to an improved data processing system, and in particular to a method and apparatus for handling order bids in an on-line auction. Still more particularly, the present invention provides a method and apparatus for setting bids for bidding agents in an on-line auction.
2. Description of Related Art
The Internet, also referred to as an “internetwork”, is a set of computer networks, possibly dissimilar, joined together by means of gateways that handle data transfer and the conversion of messages from the sending network to the protocols used by the receiving network (with packets if necessary). When capitalized, the term “Internet” refers to the collection of networks and gateways that use the TCP/IP suite of protocols.
The Internet has become a cultural fixture as a source of both information and entertainment. Many businesses are creating Internet sites as an integral part of their marketing efforts, informing consumers of the products or services offered by the business or providing other information seeking to engender brand loyalty. Many federal, state, and local government agencies are also employing Internet sites for informational purposes, particularly agencies which must interact with virtually all segments of society such as the Internal Revenue Service and secretaries of state. Providing informational guides and/or searchable databases of online public records may reduce operating costs. Further, the Internet is becoming increasingly popular as a medium for commercial transactions.
Currently, the most commonly employed method of transferring data over the Internet is to employ the World Wide Web environment, also called simply “the Web”. Other Internet resources exist for transferring information, such as File Transfer Protocol (FTP) and Gopher, but have not achieved the popularity of the Web. In the Web environment, servers and clients effect data transaction using the Hypertext Transfer Protocol (HTTP), a known protocol for handling the transfer of various data files (e.g., text, still graphic images, audio, motion video, etc.). The information in various data files is formatted for presentation to a user by a standard page description language, the Hypertext Markup Language (HTML). In addition to basic presentation formatting, HTML allows developers to specify “links” to other Web resources identified by a Uniform Resource Locator (URL). A URL is a special syntax identifier defining a communications path to specific information. The URL provides a universal, consistent method for finding and accessing this information, not necessarily for the user, but mostly for the user's Web “browser”. A browser is a program capable of submitting a request for information identified by an identifier, such as, for example, a URL. A user may enter a domain name through a graphical user interface (GUI) for the browser to access a source of content. The domain name is automatically converted to the Internet Protocol (IP) address by a domain name server (DNS), which is a service that translates the symbolic name entered by the user into an IP address by looking up the domain name in a database.
The Internet also is widely used to transfer applications to users using browsers. With respect to commerce on the Web, individual consumers and business use the Web to purchase various goods and services. In offering goods and services, some companies offer goods and services solely on the Web while others use the Web to extend their reach.
Auctions or brokered sales are another form of business activity on the Internet. These auctions are similar to those in real world auctions. As with real world auctions, some buyers may not have sufficient time to participate in an Internet or on-line auction. In such a case, a proxy or bidding agent may be used to submit bids on behalf of the buyer and in the best interest of the buyer. Further, Internet auctions often run for periods of time longer than real world auctions. In this situation, having bidding agents to provide proxy or order bid services for a buyer is equally important in Internet auctions.
One problem occurring with the use of bidding agents in Internet auctions is a situation in which two or more bidding agents enter a bidding war submitting a sequence of bids with each bid beating a prior bid by the minimum bid increment. This behavior causes a very large number of bids to be submitted, which in turn causes the bid tables to become excessively large. This situation places a strain on system resources as well as an inconvenience to other buyers who have to scan through a large number of bids.
Therefore, it would be advantageous to have an improved method and apparatus for providing bidding agents which do not generate large numbers of bids.